does anyone know about being a guarantor for a student???

dimbo61

Who said anything about Income?
I send out guarantor forms ( Deed of guarantor)
I also have a video inventory done before the tenants move in and supply a written copy for all the students to sign for each bedroom.
It is very hard for a Landlord to keep the deposit !!!
They need to prove damage or theft of belongings in the property.
Good landlords use Independent companies to do the check in inventory and check out inventory.
If someone poured paint or nail polish all over your carpet at home would you expect them to pay for the damage?

molly22

the guarantor form states the following

"THE Guarantor As per the guarantor forms to form a tripartite agreement

I confirm that I will act as guarantor for the above named tenant for any default of rent or other costs incurred by
the tenant, not exceeding the annual rental figure, in this or any other house owned by the landlord during the
term of this tenancy or any other tenancy entered into with the landlord by the above named tenant. I confirm that I
have at no time been declared bankrupt or had any County Court Judgements ordered against me. I have lived at
the address given for at least 3 years or written my previous address on the reverse side of this form. I confirm
that any changes to the information given on this form during the tenancy agreement must be notified in writing to
the landlord within 10 working days."

is this ok?

dodger1

molly22 wrote: »

the guarantor form states the following

"THE Guarantor As per the guarantor forms to form a tripartite agreement

I confirm that I will act as guarantor for the above named tenant for any default of rent or other costs incurred by
the tenant, not exceeding the annual rental figure, in this or any other house owned by the landlord during the
term of this tenancy or any other tenancy entered into with the landlord by the above named tenant. I confirm that I
have at no time been declared bankrupt or had any County Court Judgements ordered against me. I have lived at
the address given for at least 3 years or written my previous address on the reverse side of this form. I confirm
that any changes to the information given on this form during the tenancy agreement must be notified in writing to
the landlord within 10 working days."

is this ok?

So why is your son asking for an upfront payment?

Alarae

molly22 wrote: »

the guarantor form states the following

"THE Guarantor As per the guarantor forms to form a tripartite agreement

I confirm that I will act as guarantor for the above named tenant for any default of rent or other costs incurred by
the tenant, not exceeding the annual rental figure, in this or any other house owned by the landlord during the
term of this tenancy or any other tenancy entered into with the landlord by the above named tenant. I confirm that I
have at no time been declared bankrupt or had any County Court Judgements ordered against me. I have lived at
the address given for at least 3 years or written my previous address on the reverse side of this form. I confirm
that any changes to the information given on this form during the tenancy agreement must be notified in writing to
the landlord within 10 working days."

is this ok?

Hi OP, prior to moving in together with my partner I lived in a shared student house last year. I had to get my dad as a guarantor, and the form he had to sign sounded similar to yours above. He was not liable for any other students in the house, only if I defaulted on my part of the rent as the contract was not 'jointly and severable'.

That sounds fine to me in as such you won't be liable for the other tenants and just your son, however I would take a quick phone call to the estate agent setting this up and confirming that you will only be liable for your son's portion of the rent, not the entire monthly yield. Get this emailed to you before you sign so you have evidence.

When your son moves in get him to take dated pictures of all communal areas and his room, to use as proof of the standard of the property when he moved in to clarify his position at the end of the tenancy. In my experience estate agents are picky to get costs from students for cleaning/damage despite the room begin cleaner than on arrival or the damage preexisting to the start of tenancy.

I refused to share another student house after the way my estate agent treated me due to being a student (unfortunately for them who studies law and laid into them at the end of the tenancy when they were slow to release deposit!) and I'm now happily renting a residential tenancy with my boyfriend.

Make sure your son trusts the people he will move in with- as cleaning the communal areas tends to be the first issue to arise in a shared student house and resentments can rise if people don't pull their weight. Also make sure they are all liable in some way for bills, and not lump it on one person so there is joint responsibility.

Mojisola

BitterAndTwisted wrote: »

He's got a bloody cheek to drop this on you as I daresay neither you nor he have done much research into quite how serious an undertaking being a guarantor is. SIGN NOTHING until at least you understand it.

And only sign then if you have the money to pay his rent for the set time period. Never be a guarantor unless you are willing and financially able to lose the money.

silvercar

Mojisola wrote: »

And only sign then if you have the money to pay his rent for the set time period. Never be a guarantor unless you are willing and financially able to lose the money.

If you are not prepared to act as guarantor for your own child, then who do you expect to do it?

As a parent you have certain responsibilities towards your children, including supporting them at university. Presumably choosing to study away from home for 3/4 years is a decision that was discussed as a family. Renting without a guarantor at university is going to be very difficult, so if you want your student child to have a chance of half decent accommodation, this is something you need to do.

Check the contract carefully, instill in your child the responsibilities that come with taking on a rental contract themselves, minimise potential losses, etc. The bottom line is that supporting your child through university generally involves this sort of thing.

Mojisola

silvercar wrote: »

If you are not prepared to act as guarantor for your own child, then who do you expect to do it?

That doesn't change the central issue - if you can't afford to pay the money, you shouldn't become a guarantor.

Many do, I suppose, with their fingers crossed that it will all work out.

Voyager2002

Mojisola wrote: »

That doesn't change the central issue - if you can't afford to pay the money, you shouldn't become a guarantor.

Many do, I suppose, with their fingers crossed that it will all work out.

No, they (I) do so because we have confidence in our kids. My responsibility as a parent includes providing him with a place to live, and also ensuring that he understands the importance of paying his rent.

Mojisola

Voyager2002 wrote: »

No, they (I) do so because we have confidence in our kids. My responsibility as a parent includes providing him with a place to live, and also ensuring that he understands the importance of paying his rent.

So do we but we also know we could manage to pay if, say, he has an accident and has to drop out of uni for a year. We trust him but life has a way of throwing the unexpected at you.

If having to pay up as guarantors would put our own home (and that of his siblings) at risk, we'd be foolish to sign up.

silvercar

Mojisola wrote: »

So do we but we also know we could manage to pay if, say, he has an accident and has to drop out of uni for a year. We trust him but life has a way of throwing the unexpected at you.

If having to pay up as guarantors would put our own home (and that of his siblings) at risk, we'd be foolish to sign up.

So do you tell your (academic- let's assume) child that there is no way you would act as a guarantor if they move away to university, so their only options will be to study at a university close to home, if there is one that offers an appropriate course, or miss out on going to university or risk living in whatever sub standard accommodation they can find with a landlord who is prepared to take them with no guarantor?

Even if something went wrong, most students who drop out of university find substitutes to take their place in a shared house. Or they leave because they get a job and can therefore afford to pay the rent.

Even if the guarantor was called upon to pay something, it is unlikely to be a whole years rent. I have never heard of a parent losing their own home because of a child's student rent issue. I can't see the amount owed ever being so great that it goes to court, a CCJ awarded and then a charging order on a property of the parents and then a repossession order.